Chap. 245.—An ACT to incorporate the Dickenson county railway
company.

Approved May 16, 1887.

yh Be it enacted by the gencral assembly of Virginia, That
”.C. Bullitt, H. S. Trout, A. J. May, W. F. Rhea, "Ss. D. May,
ohn D. Imboden, Frank ILugher, D. H. Barger, J.V. Kelly,
ind J. S. Gillespie, or such of them as may accept the pro-
sions of this act, their associates, successors, and assigns,
x and they are hereby incorporated and made a body politie
ind corporate, under the name and style of the Dickenson
ounty railway company, and by that name shall be known
nthe law, and as such are authorized and empovvered to
ocate, construct, and opcrate a line of railroad, commencing
ita point on or near Clinch river, and at or between the
nouths of Swords creek and Lick creek, in Russell county,
ind running thence to the breaks in Dickenson county, and
»y such route as may be deemed most suitable by the direc-
ors Of said company.

2. The said company shall have perpetual succession, and
nave power to sue and be sued, plead and be impleaded, de-
fend and be defended in all the courts, whether in law or in
equity; and may make and have a common scal, and alter
or renew the same at pleasure; and shall bave and possess
and enjoy all the rights and privileges of a corporation or
body politic in the law and necessary for the purpose of this
act.

3. The capital stock of said company shall not be less than
one hundred thousand dollars, and may from time to time,
with the consent of a majority of the stockholders, be in-
ercased to an amount requisite for the purposes of the com-
pany, by issue and sales of shares, the par value of which
shall not be less than fifty dollars, from time to time, under
such regulations as the board of directors of said company
shall from time to time prescribe; and the directors may re-
ceive cash, labor, material, and real and personal property,
suited to the business of the company, in payment of sub-
scriptions to the capital stock, at such valuations as may be
avreed upon between the directors and subscribers, and may

make such subseriptions payable in such manner or amounts
at such times as may be agreed upon with the subscribers.

4. It shall be lawful for the company to acquire, by dona-
tions or purchase, land for right of way, depots, stations, and
other purposes, necessary for the successful construction and
operation of its road, in any of the counties through which
it is authorized to construct its line.

). It shall be lawful for said company to borrow money or
issue and scll its bonds from time to time for such sum and
on such terms as its board of directors may deem expedient
and proper, and secure the payment of said bonds by mort-
gages or deeds of trust upon all or any portion of its pro-
perty, railroad and franchises.
6. It shall be lawful for said company to guarantee or hold
the stock or bonds of any mining, manufacturing, or other
corporation of this State, and mining, manutacturing, or
other corporations may guarantee or hold the stock or bonds
of the said company.

7. The said corporation is authorized and empowered, by
such route or routes as if may select, to locate, construct,
equip, and operate lateral or branch roads, as may be neces-
sary tor the accommodation of the public, and to bring out
coal, iron ores, and products in the counties of Russell, Dick-
enson, and Buchanan, or to connect with any other railroad
that is now or hereafter may be constructed in or to any ot
said counties. . :

8. The said company may acquire by condemnation, ac-
cording to the laws ot Virginia, the lands required for the
right of way of its railroad and the necessary stations and
depots for its operation, and may connect or unite its railroad
with that of any other railroad company now or hereafter
constructed in or to any of the counties hereinbefore men-
tioned, or consolidate or merge its stock, property, and fran-
chises with those of any company operating or authorized
to operate a connecting line of railroad, not a competing
line, upon such terms as may be agreed upon by the board
of directors of the companies so uniting or consolidating, and
for that purpose power is hereby given to it and to sucb other
company or companies to make and carry out such contracts
as will facilitate and consummate such connection, merger,
or consolidation: provided that a copy of every such contract
or consolidation and merger be filed in the office of public
works.

9. The said company shall be required to commence the
construction of said railroad within three years from the
passage of this act, and to complete the construction of the
main line within six years thereafter, or otherwise the powers.
privileges, and franchises hereby granted, shall be annulled
and become void.

10. The persons first named in this act, or such of them
as shall accept the provisions thereof, shall have the power
and authority of a president and board of directors for the
purpose of organizing and all other purposes. They shall
constitute the board of directors tor the first year, and shall
continue in ottice until their successors shall be elected and
qualified. Hach stockholder in the company shall at all
meetings or elections be entitled to one vote for each share
of stock registered in his name. :

11. The board of directors shall be stockholders of said
company. They shall appoint one of their number president,
und may fill any vacancy that may occur in said board, un-
less by removal, in which case the same shall be filled by the
stockholders in general meeting. Whenever ten per centum
of the capital stock shall have been subscribed, and the board
of directors shall bave elected a president, said company shall
be considered legally organized, and may proceed to the
transaction of business.
12. The board of directors may establish offices and aven-
cies at such places as they may deem proper, but the princi-
pal office of the company shall be located at some point
within the limits of the State of Virginia.

13, All taxes due the commonwealth by said company
shall be paid in lawful moncy of the United States, and not
in coupons.

14. This act shall be in force from its passage, but the
general assembly of the State of Virginia reserves to itself
the right to modity, alter, or repeal this act at any time bere-
after.